Microeconomics: A Modern Approach PDF Download Ebook. Andrew Schotter shows how to go beyond studying theory and effectively apply what you learn to your future studies, career, and life. Professor Schotter believes the future of teaching microeconomics will be heavily connected with the use of experimental tools.
As a result, this book is built on an experimental economics framework that emphasizes game theory, strategic analysis, and organization of the firm, without skimping on traditional topics like consumer choice, production and markets. Each chapter and section builds upon a unifying theme of how economic institutions develop to solve problems that arise in a society.
One of the major analytical tools used in the book is game theory. Chapter 11 introduces the fundamentals of game theory, illustrating how it can serve as a tool for strategic business analysis. Throughout the remaining chapters, game theory is used as a means of understanding the different strategies of the various parties to a situation.
Cutting-edge coverage includes several chapters not found in other texts, including the internal organization of the firm (ch. 8), entry prevention (ch. 12), natural monopoly and the economics of regulation (ch. 10) and time inconsistency. If these chapters do not fit the objectives of your course, they can be skipped without causing any problems in understanding for future chapters.
Concepts are presented within the context of a society that starts out in a primitive state of nature and gradually develops the characteristics and institutions of a modern economy. Illustrating various points of view, the text also helps you sharpen your critical thinking skills as it presents theories as well as their deficiencies. Applying intermediate economics to everyday life, it is a text that will further your core foundation for studying economics.
To help students see economics as a dynamic science, a considerable amount of space is devoted to criticizing theories. In some chapters, this is done through "consulting reports," which suggest possible solutions to problems that the model society faces, such as how to regulate monopolies.
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